Kellogg announced Tuesday that it plans to split into three independent public companies.

The company operates in the North American grain and plant-based segment, which accounted for 20% of its revenue last year. 

Other businesses include its snacks, noodles, international cereals, and North American frozen breakfast brands, which account for 80% of total sales in 2021.

“All of these companies have significant independent potential, and enhanced focus will allow them

to better focus their resources on their separate strategic priorities,” CEO Steve Cahillane said in a statement.

Kellogg estimates tax-free spinoffs will be completed by the end of 2023. The names of the new companies have not yet been decided

Proposed management teams for the two spin-offs will be announced later. Cahillane will continue as CEO of a company focused on global snacks.

The headquarters of the three companies will remain unchanged

Both the North American grain company and the plant-based food spinoff are located in Battle Creek, Michigan

The global snack company will maintain its headquarters in Chicago and another campus in Battle Creek.